Truist lowered the firm’s price target on McDonald’s (MCD) to $340 from $342 but keeps a Buy rating on the shares. The company looks “well positioned” after a challenging Q4 while its recent U.S. SSS trends appear stronger than expected, supported by its early January ‘McValue’ menu launch and given its significant drivers ahead, the analyst tells investors in a research note. International sales at McDonald’s also accelerated in both segments, and the company is gaining share in markets where macro pressures are building, the firm adds.
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Read More on MCD:
- McDonald’s price target raised to $316 from $312 at BofA
- McDonald’s price target raised to $305 from $300 at TD Cowen
- McDonald’s price target raised to $310 from $305 at Baird
- McDonald’s price target raised to $340 from $336 at Morgan Stanley
- McDonald’s price target raised to $335 from $320 at KeyBanc
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